Useful management accounting system for electronic boards plc of jack watson?

prepare a blueprint for the board of Electronic Boards plc,outlining the main factors which they should consider in establishing a useful management accounting function within the company

The key concept for any management accounting system is VALUE. Managers need financial information which will give them an edge in making a decision. Therefore, the MAS should first determine the needs of management: exactly what tools do they need to monitor the business and to achieve their objective. The management must be absolutely crystal clear as to WHAT they want to know.

The MAS will then grow from this point. One serious flaw of many accounting systems is that they are very slow to report. In today's hi tech world, real time information is critical.

The information may be internal and external, i.e. what is happening with the competition. The MAS may have to be highly creative, marrying other non-'financial' measures, such as demographics--there's a universe of valuable information out there. Think "out of the box" and make suggestions to the managers. Be creative.

In the end, if the MAS doesn't provide value to the managers, then it is like a house without a foundation. You may as well not even start on the blueprint.